Tag: Impulse Responses

Can Local Projections Have Short-Run Restrictions?

Before diving into the blog, allow me to share that it is the first time I wrote an EconMacro blog on a plane. A lot of people seems…

Post date May 24, 2026
Post categories In Illustrated, Pedagogical Note
Tags BVAR, Cholesky Identification, Frisch-Waugh-Lovell Theorem, GDP Growth, Geopolitical Risk, Impulse Responses, Inflation, Local Projections, Macroeconometrics, Panel VAR, Short-Run Restrictions, Structural Shocks, VAR

Equivalence of Cholesky identified shocks in VARs and Local Projections

Local projections have become a standard tool in applied macroeconometrics. They are widely used to estimate dynamic responses to shocks, especially when researchers do not want to impose…

Post date May 6, 2026
Post categories In Illustrated, Pedagogical Note
Tags Causal Inference, Cholesky Identification, GDP Growth, Geopolitical Risk, Impulse Responses, Inflation, Local Projections, Macroeconometrics, Panel Data, STATA Code, VAR

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Can Local Projections Have Short-Run Restrictions?

Equivalence of Cholesky identified shocks in VARs and Local Projections

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Can Local Projections Have Short-Run Restrictions?

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